Ethics & Fiduciary Bound
The Fiduciary Standard
Q: What is a Fiduciary?
A: A financial advisor that acts as a fiduciary is required, by law, to act in the best interest of his or her clients, putting clients’ interests ahead of his or her own at all times.
Consumers lose billions of dollars every year buying financial products that benefit the salesperson more than the investor. That’s right. Your advisor may not have your best interests in mind. As the law currently stands, broker dealers and insurance salespersons operating under the “suitability standard” are merely required to ensure an investment is suitable for a client at the time of the investment. This situation is so patently unfair that on April 6, 2016, the government proposed an important new regulation requiring stockbrokers, investment advisers, life-insurance agents, and annuity salespersons to all be bound by this fiduciary standard.
You didn't know that “customers first” is not the rule in the financial planning industry? It isn’t, and even now, the proposed regulation will only apply to retirement accounts. For your other financial needs, you’re still on your own!
Q: What can you do about it?
A: Before you make an investment, buy a financial product, or hire a financial adviser, ask the question — is the person you are working with bound by the fiduciary standard?
At Parker Financial Group, we have operated under the fiduciary rule since we opened over 25 years ago. So, yes, we are bound by the fiduciary standard. We always have been. We always will be.
We Never Stop Working for You
Our commitment to ethics and the Fiduciary Standard mean that we never stop working for you and your best interests. Because we are independent and not fee based, our loyalty doesn't lie with any one company or product; our loyalty lies with you and providing you with the best products available in the marketplace. The freedom to choose from a broad array of financial resources allows us to adapt to the changing market and your changing needs, assuring your financial plan continues to achieve your financial goals.
At PFG, we strive to meet with our clients on an ongoing basis to continually reevaluate your financial plan in relationship to where you are in life and what options are available to you. Our door is always open for our clients to come in and get answers to their questions and review their financial plans, absolutely free. In addition, we schedule annual reviews with our clients to assure we are constantly looking back, assessing their current situation, and planning for the future.
An annual review session is time spent working with us to monitor your progress towards your goals, and adjust your plan when needed.
An annual review session looks back at all aspects of your financial plan for the past year to evaluate progress towards your goals.
Accessing your Current Situation
We discuss changes in your life and other factors that may impact your financial plan.
Planning for the Future
With your present needs in mind, we adjust your plan to help you pursue your long-term goals.